PiCK

"The First Altcoin ETF of the Year Likely to be Litecoin (LTC)"

JH Kim

Summary

Eric Balchunas mentioned the possibility of Litecoin (LTC) becoming the first altcoin ETF of the year.
The United States Securities and Exchange Commission (SEC) considers Litecoin a commodity.
The appointment of a new SEC chairman is expected to reduce the likelihood of the Litecoin ETF being withdrawn.

Eric Balchunas, Bloomberg's senior ETF analyst, stated on the 16th (local time) via X (formerly Twitter) that "Litecoin (LTC) could be the first altcoin exchange-traded fund (ETF) to be launched this year," adding that "the United States Securities and Exchange Commission (SEC) has commented on the S-1 (securities registration statement), and Litecoin is considered a commodity."

He further added, "With a new SEC chairman set to take office, I see no reason for the Litecoin ETF to be withdrawn."

LTC

JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.

PiCK

"The First Altcoin ETF of the Year Likely to be Litecoin (LTC)"

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